South Korean selloff on crypto clampdown
After a brief day or two of recovery, all cryptocurrencies except a couple were back in the red again during the Asian trading session. Bitcoin showed a strong rebound but failed to break resistance below $17,000 yesterday and fell sharply back to $14,700 where it currently trades. Likewise Ethereum, Bitcoin Cash and Litecoin have all slid back around 12% on average at the time of writing.
The cause could be a big selloff in South Korea following further regulation on crypto-exchanges by the government. It has been estimated that exchanges in the Southeast Asian nation are responsible for over a quarter of the global volume. A major issue Korean traders face is the discrepancies in prices which can be much higher on local exchanges than in other countries.
The government has taken a stance and issued this statement today;
“The government had warned several times that virtual coins cannot play a role as actual currency and could result in high losses due to excessive volatility,”
It has vowed to ban opening anonymous accounts for crypto trading and enforce that exchanges take further steps to ensure transparency. Currently, anyone with a mobile phone and a bank account can sign up to trade on Bithumb. Most exchanges require photographic ID to increase deposit or withdrawal limits, this is certainly nothing new. The exchange responded by stating to Reuters that the right set of regulations would nurture virtual currencies and it is something that Bithumb supports.
South Korea also plans to introduce new legislation to grant it more control over exchanges and the ability to close them if needed. According to the statement, this directive came from the justice ministry. A crypto tax was previously mulled by the South Korean government to tackle what it sees as the risk of excessive speculation.
Banks within the country are also backing off with some rescinding Bitcoin-based reward programs and others closing virtual accounts used to trade with exchanges. The resultant selloff started a few hours ago across Asia however as we have seen time and time before things usually bounce back.
If China’s ICO ban could not keep crypto down for long it is unlikely that more regulation from South Korea will. Decentralizing finance and technology will always go against governments and banks which need the complete opposite to maintain control.
Image courtesy Bitcoin Magazine.
Investors Flock as Lyfebloc Token Presale Starting Soon
As investors seek out emerging opportunities, pre-sales are becoming more common, causing the crypto market to explode. One token that is making waves lately is Lyfebloc, which has raised a lot of interest in its upcoming presale in the world of DeFi (Decentralized Finance).
Lyfebloc a next generation Automated Marker Maker (AMM) that provides frictionless crypto liquidity. With Decentralized Governance and cross chain liquidity, Lyfebloc transcends the barriers that currently isolate constant function market makers. Combined with sophisticated routing and arbitrage design, Lyfebloc expands the design space for trading and market making on-chain.
Key features of Lyfebloc (LBT):
- Automated Market Maker (AMM): Designed with next generation arbitrage design enables users to Optimize your trades across hundreds of DEXes on multiple networks instantly
- Liquidity Aggregation Protocol: Instantly sources liquidity from multiple hundreds of sources to provide lowest slippage and best price trades.
- Yield Farming: Allows users to earn rewards by staking LP tokens. LP tokens are generated by the fees charged when users trade on the Lyfebloc, and these tokens can be staked to earn LBT rewards.
- Multiplier Protocol: Allows users to trade crypto with zero price impact, up to 100x leverage and aggregated liquidity.
- Governance: Governed by the community through Lyfebloc DAO, a Decentralized Autonomous Organization. LBT holders stake LBT tokens to vote on governance proposals that shape Lyfebloc.
- Deflationary Protocol: generates decentralized financial assets that reward users with sustainable fixed compound interest models while awarding token holders in crypto.
Why is it being touted as such a revolutionary crypto project?
Lyfebloc offers a range of real-world use cases, including liquidity pools, yield farming, lending, and borrowing. It’s also built on the Ethereum blockchain, which offers fast transaction speeds and low fees, making it a more practical option for DeFi users. Additionally, Lyfebloc also has a more comprehensive ecosystem than most cryptocurrency projects on the market, with a range of products that work together seamlessly. This makes it a more attractive option for DeFi users who are looking for a one-stop shop for all their DeFi needs.
Lyfebloc (LBT) is a DeFi token that’s set to make waves in the crypto market. With its unique architecture, comprehensive ecosystem, and real-world use cases, it’s being touted as a revolutionary crypto project. Lyfebloc has already raised the interest of the biggest names in the crypto industry for its upcoming presale, which is a testament to its potential.
While it’s still early days for Lyfebloc, the project has a solid development team, a range of products, and a clear roadmap for the future. As DeFi continues to gain mainstream acceptance, Lyfebloc is well-positioned to be a major player in the space.
Visit the links below for more information about Lyfebloc (LBT) token presale:
Lyfebloc Presale: Lyfebloc Presale
Lyfebloc Network: https://lyfeblocnetwork.com
Play, Think, and Earn: How House of Hamsters is set on Revolutionizing the Gaming Industry in WEB3
Gaming has become an integral part of our lives, with millions of people across the globe spending hours playing various games on different platforms, the promise of blockchain development and the rise of nonfungible tokens (NFTs) gave the significant birth of play-to-earn games that took the industry by storm.
While many still view gaming as a mere source of entertainment, recent research has revealed that gaming can have numerous positive effects on our cognitive abilities.
In particular, thinking in gaming experience has been shown to improve cognitive abilities, such as problem-solving, decision-making, spatial awareness, and hand-eye coordination. This type of thinking involves the ability to think strategically, anticipate outcomes, and adapt to changing situations in the game, the research that was conducted by the founding team members at House of Hamsters inspired to develop an immersive nature of gaming that can provide a unique and engaging way to improve cognitive abilities and generate income.
House of Hamsters and the Birth of Think 2 Earn
House of Hamsters prides itself in developing the first Think 2 Earn NFT powered mobile game designed to help improve thinking skills, generate income while enjoying the card game.
Merging GameFi (Free to Play) and Poker components, the project aims to develop a self-sustaining and reliable economic model rewarding players making free to play at the core of everything and providing additional income sources on the rake (commission from games for tokens), which, in turn, allows for payments to users for participating in free competitions. It is worth noting that according to research, the revenue of online poker rooms in 2022 from rake alone exceeded $3.5 billion.
HamCoin ($HAMC) is a new BEP20 token supported by Binance Smart Chain (BSC), based on the BNB Chain smart contract. A total of 2,000,000,000 tokens have been issued, of which 25% will be burned in the future.
The project’s concept is focused on fair and just competitions, where everything depends only on the players. Right after registration, each user receives a free Hamster, which allows them to start participating in games.
The idea of Hamsters is built to empower every single player and give them a chance to turn their hamster into a sought — after character captivating the imagination of their fans and followers, community overall. This is an embedded belief of the project founders that anyone has a power to make difference, especially in the industry where one can learn to think strategically, play for free, generate income and capitalize on the promise of WEB 3.
House of Hamsters NFT Sales
To form a strong and sustainable community, House of Hamsters is kicking off its first batch of 1000 pcs of NFT sales on May 15th.
While everyone could enjoy the game by simply registering and start playing with a free white hamster, Limited number of NFT hamsters offer a lot more perks that is well described below
There types of NFTs:
- Common Hamsters – (150$)
- Uncommon Hamsters – (400$)
- Rare Hamsters – (1000$)
These NFTs will be randomly distributed in 1000 NFT boxes, and one of the above listed NFT with unique attributes is going to be included in all of the 1000 boxes.
Just for 150$ USD anyone can try their luck and buy one of the three NFT Hamsters.
Why NFT Hamsters over free ones?
NFT Hamsters have several advantages over regular Hamsters. They can be leveled up to level 20, allowing players to earn tens of times more $HAMC tokens. Additionally, NFT Hamsters have increased starting stats and more points for stat growth when leveling up. Another advantage of NFT Hamsters is the additional slot for storing the energy required for playing.
By becoming an NFT Hamster owner, you automatically gain access to the beta version of the application where you can start earning $HAMC tokens among the first. And, of course, one of the most important advantages of an NFT Hamster is the ability to sell it on the secondary market at a significantly higher price, as the character’s value increases as it levels up, and demand constantly grows with a limited quantity available.
The project team plans to release a limited number of NFT tables in the future, the owners of which will be able to receive a commission from the games in tokens (rake) regularly.
House of Hamsters is not only a game but also an opportunity to earn, develop thinking, and meet interesting people.
There is one more thing
Beyond WEB 3 related activities, House of Hamsters takes social impact seriously.
It is going to deepen its engagement in charity related activities and develop a network across MENA to help refugees in need.
The funds will be allocated to various initiatives, such as providing food, shelter, medical aid, and education for refugees and much more. One of the upcoming projects that House of Hamsters is supporting is Charity Dinner for Palestenians based on Jordan and Turkish citizens that suffered from recent earthquakes.
Moreover, the team aims to raise money for the provision of essential items like blankets, clothing, and hygiene kits and support community development projects that promote self-sufficiency and resilience among the affected populations.
All details of activities will be well communicated on the website and blog of the project that can be found here.
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Choosing LYOTRADE as your crypto exchange? Here are 5 reasons to do it
With hundreds of crypto exchanges now emerging, it is important to understand the key benefits to choose a crypto exchange. Today, we take a look at why LYOTRADE, which is a regulated and licensed crypto exchange that follows Know Your Customer (KYC) and Anti-Money Laundering (AML). Is LYOTRADE the right choice for you?
1. Trading ETFs
In addition to the classic methods, such as spot market, P2P, futures and grid, LYOTRAVEL also has ETF trading available. An exchange-traded fund is a financial tool to buy baskets of stocks containing shares of hundreds or thousands of companies with a single purchase. It is easy to buy or sell new shares without running the risk of seeing their value drop and accessing small quantities of major market indices. Because they’re highly diversified, ETFs are generally considered safe long-term investments with historically dependable returns.
2. Buy and Sell with Card and Bank Transfer
An essential tool especially for those who are using cryptocurrencies for the first time. A quick and easy way to buy cryptocurrencies and tokens and make a first deposit on LYOTRADE: this is the function buy crypto using your debit/credit card or with bank transfer. Conversely, it can also be sold. There are +50 traditional money available with which to pay and receive funds in fiat money. Convenient fees, this is the alternative to depositing from another wallet to start using LYOTRADE.
3. Staking USDT
LYOTRADE offers staking pools that are updated over time. Staking available on LYO Credit token and Tether USDT. LYO is a good token based on BNB and backed by a burning strategy. Zokyo conducted an audit on it with 98% positive result. As of December 2022, the staking pool with the highest return was 50% rewards per year. For each pool there are different period locks to choose from and the longer the period lock the higher the total rewards. To know about new pools join the telegram channel of LYOTRADE because once announced they reach the maximum capacity quickly: https://t.me/lyotrade
4. KYC and AML Procurement
LYOTRADE has a license based in Georgia for digital assets exchange services, digital assets and financial services, portfolio management. The exchange follows all the procedures for working in complaints according to the regulations of the countries in which it operates. In fact, an identity verification is required with him the user can ensure the ownership of his wallet, even in case of loss of password, he can contact the live support every week. A smart choice for centralized exchanges.
5. Promotions and Events
They are often airdrops to obtain free tokens or features published at events. For example, during the 2022 FIFA World Cup, a game was launched to buy team tokens and win if you pick the winning team. Online games and the possibility of winning free tokens with just a few actions are also promoted during physical events. The most recent airdrops and token bounties were airdrops for account activation on LYOTRADE to win LYO Credit, and on Twitter with a win of 1 Etheurum ETH for retweeting and registering on the exchange.
Telegram announcement channel: https://t.me/lyotrade/
LYOTRADE is part of the LYOPAY group.
Cloak Protocol Pre-Sale Goes Live As The Platform Looks To Revolutionize DeFi
Cloak Protocol is happy to announce that its pre-sale is now live, and the team encourages participants to join the game-changing $CLOAK project, which is focused on privacy and security. As a groundbreaking privacy-centric DAO and DeFi project, Cloak Protocol effectively combines advanced encryption, anonymity, and decentralization to redefine privacy in the digital age.
Moreover, as the platform is a decentralized autonomous organization, it emphasizes community participation in decision-making, transforming it into a truly democratic and collaborative platform.
A unique investment opportunity
Generally speaking, investing early can lead to several benefits, such as enabling users to have more time in the market to ride out short-term fluctuations and capitalize on long-term growth trends. Investing early additionally permits users to gradually build a diversified portfolio, which can lower risk and potentially increase returns as well. Early investing can also play a vital role in amassing funds over time to achieve different financial goals, such as purchasing a home, funding education, or accumulating a retirement fund. Finally, investing early allows users to take a long-term view, weather market downturns, and be able to make informed investment decisions over time.
Cloak Protocol provides an appealing investment opportunity with a minimum 2X ROI for investors, along with the ability to stake tokens for additional rewards derived from platform transactions. By securing their positions as one of the privileged holders who can benefit from the minimum 2X return on their investment at launch, these investors are hence able to benefit from the platform’s novel staking strategies and earn profits from platform transactions by purchasing its native coin, increasing their returns. With a comprehensive roadmap outlined on the website, users can also check out Cloak Protocol’s future plans and contribute to the platform’s long term vision.
Cutting-edge privacy with zero-knowledge proof protocol
Cloak Protocol primarily revolves around privacy and security. For anonymous crypto transactions, the platform employs a zero-knowledge proof protocol and smart contracts, guaranteeing the greatest possible degree of safety and reliability for users. The reason behind this is that the platform believes in protecting individual privacy within the ever-growing digital landscape. Cloak Protocol represents a significant step toward that goal.
Furthermore, Cloak Protocol gives users the freedom and control to effectively and seamlessly manage their cryptocurrency assets at their leisure, with instant deposits and withdrawals at any time. The platform also has low fees, ensuring that users’ transactions are always affordable.
Decentralized governance and staking
Cloak Protocol believes in the empowerment of its community. The platform employs an ERC-20 token governance model, enabling token holders to actively contribute to the future of the project. Additionally, users can participate in vital decision-making processes by staking their tokens, thereby cultivating a genuinely constitutional and mutually beneficial approach to the platform’s overall infrastructure and development.
Besides that, Cloak Protocol also utilizes a staked governance model, which ensures that only committed, long-term stakeholders can vote. This reduces the potential danger of opportunistic, short-term voting, thereby improving the platform’s security and stability. In this way, token holders demonstrate their commitment and vested interest in Cloak Protocol’s long-term growth and success by staking their tokens.
About Cloak Protocol
Cloak Protocol believes that secure, anonymous Ethereum transactions will revolutionize decentralized finance. The goal is to thus discover a new era of privacy and security by harnessing the power of zero-knowledge proofs, blockchain technology, and staking capabilities.
As such, the focus is mainly on rewarding users for their involvement. Those who participate in voting can not only have a say in how the platform evolves but also earn rewards proportional to their stake volume by staking their tokens. These rewards, derived from platform fees, provide stakeholders with a passive income stream. This harmonious compatibility of incentives fosters a collaborative environment in which everyone feels inspired to contribute to the success of the project.
For more information and regular updates, visit the official website, whitepaper, as well as the Twitter and Telegram channels.
Decentralized exchange Vertex Protocol launches high speed spot and derivatives trading venue on Arbitrum
Vertex Protocol (Vertex), a decentralized exchange for digital asset spot and derivatives trading, announced earlier today that it has launched to the public, enabling market participants of all types and sizes to trade on an Arbitrum-based DEX.
Vertex’s unique offering brings together multiple market structures into one. The combination of a performant off-chain orderbook layered on top of an on-chain automated market maker (AMM) on a decentralized, self-custodial exchange delivers the benefits of a centralized exchange (CEX) without the drawbacks. All users can take advantage of Vertex’s integrated money market, borrowing and lending wBTC and ETH with spot margin that enables efficient capital deployment across cross-margined accounts.
“When setting out to build Vertex, we put together a team of traders and other financial industry veterans to create a robust, best-in-class venue,” said Vertex Protocol co-founder Darius Tabatabai. “Vertex is the realization of more than a year’s worth of market research and development work, and we couldn’t be more excited to bring it to life at such an important time in the growth cycle of the digital asset industry.”
An evolving marketplace
This launch comes as CEXs face increasing scrutiny from users that have become wary of centralized custody, and not long after research found that non-custodial wallet users grew significantly last year, and are expected to continue growing through the rest of the decade to reach nearly $50 billion in total assets by 2030.
As users increasingly use decentralized finance (DeFi) protocols, a market expected to grow more than 40 percent each year through the end of the decade to reach more than $230 billion in revenue by 2030, Vertex hopes to play an increasingly important role in the financial system of the future.
“Individuals and businesses are increasingly looking at DeFi as an alternative to the flawed centralized exchange model,” Tabatabai added. ” We believe Vertex offers a viable alternative with similar liquidity and speed, along with better capital efficiencies than incumbent options currently available.”
Setting a new bar
Arbitrum, a Layer 2 solution for the Ethereum network, is currently the fastest growing blockchain in Total Value Locked (TVL). This launch comes at a time when adoption has hit an all-time high, with Arbitrum recently surpassing Ethereum in terms of daily transaction volumes.
“Vertex has quickly established itself as a leader in the DeFi landscape,” said AJ Warner, chief strategy officer at Offchain Labs. “Bringing the exchange onto Arbitrum allows Vertex access to our world-class technology and will hopefully see the exchange scale in size very quickly. We’re excited for our community to explore their platform and look forward to supporting Vertex as they scale.”
Building Vertex on Arbitrum and using an off-chain sequencer for the order book has enabled the venue to achieve between 10,000 – 15,000 transactions per second at an order matching latency of 10-30 milliseconds, a speed that rivals leading centralized venues and surpasses any currently available DEX.
Vertex counts Jane Street, Dexterity Capital, Hudson River Trading, GSR, Collab+Currency, JST Capital, Big Brain and Lunatic Capital among its early backers, and is primed to fast become a leader in the DeFi category through the rest of this year and beyond.
About Vertex Protocol
Vertex Protocol was established by a team of traders and engineers with a track record of business building in both TradFi and DeFi markets. They saw the latent market need for users to interact with DeFi in a more flexible way and decided to leverage the growing ecosystem on the Arbirtrum blockchain to bring a trading protocol to market. Today, they are excited to be at the forefront of smart contract and market innovation for Arbitrum and to help partner with some of the most exciting names in crypto to build a DeFi protocol that works for all users.
To learn more about Vertex Protocol, please visit www.vertexprotocol.com and/or go to the following:
Discord community: https://discord.gg/xRdut3NyG3
Public docs: https://vertex-protocol.gitbook.io/vertex-protocol/getting-started/vertex-overview
The Real Truth About LYOPAY Crypto Ecosystem
There is a project that is becoming popular in the crypto world. And we know that, no matter how many companies there are, it is a sector in which information travels fast and reaches everyone’s ears and eyes.
The latest trend of the moment seems to be LYOPAY, a crypto ecosystem of products ranging from crypto exchanges to bitcoin travel platforms.
What is LYOPAY for real? Is it a project destined to last over time? Here are our two cents.
The project was presented on the market in the summer of 2020. The initial offer was to create a super-app for crypto payment services: then, the direction moved towards creating a real ecosystem of platforms and branded stand-alone products LYOPAY.
The first portal was LYOPAY with the app and payment services. It was successful in Europe, where they had provided the EUR IBAN account service, as well as cryptocurrency wallet storage and swap exchange. Building a community hungry for crypto services, LYOPAY announces the services in development now become reality, especially the LYOTRADE crypto exchange with the native token LYO.
LYOTRADE crypto exchange
On February 21, 2022, the ecosystem exchange goes live celebrating with an airdrop of LYO Credit (LYO). Since that day, in just under a year, many products aside from crypto trading have been integrated and today it has +250 cryptocurrencies and tokens.
To start a business as private or company on LYOTRADE you can deposit crypto after identity verification. LYOTRADE follows the global standard of Anti-Money Laundering (AML) and Know Your Customer (KYC) to keep hacks, illegal transactions, and other illicit activities at bay. In minutes, it’s ready. If you don’t have cryptocurrencies, they can be purchased quickly with the buy and sell using debit/credit card and bank transfer service.
The LYO token can be purchased with USDT. LYO received a 98% rating in a smart contract audit performed by the Zokyo blockchain team on March 11, 2022. It can be used to make transactions or staking: LYOTRADE has published staking pools over time that have reached 50% annual rewards in tokens. Both on LYO and on Tether (USDT).
The ecosystem of crypto products
Many products live in the project, each with its own platform and mobile app. We consider LYOTRADE the starting point from which to manage your crypto wallets. Then, the balances can be used to purchase airline tickets on LYOTRAVEL, using BTC, ETH, BNB, LTC and others. If you have a shop or a business, then you could choose LYOMERCHANT, a payment gateway to accept payments in crypto in your online and offline business.
The safety of the amounts of its customers is in the first place. Because of this LYOPAY offers both centralized solutions for wallet storage as LYOTRADE and LYOPAY app, and DEX as LYOWALLET, noncustodial wallet. In addition, physical cold storage is available with CoolWallet-S branded LYOPAY.
Is LYOPAY a reliable project?
The project has several companies operating in most of the world. As their website states:
The project works with several companies worldwide in order to operate according to the regulations of each legislation in which LYOPAY Group platforms are available. LYOPAY operates in compliance with diligent international standards for conducting its operations under the Anti Money Laundering (AML) Framework, and through its Know Your Customer (KYC) and Digital Asset/Fiat Transaction Monitoring procedures.
Based in London and Hong Kong, LYOPAY is here to stay and create a safe and long-lasting project. They are licensed, digital assets exchange services, digital assets and financial services, and portfolio management.
Still not sure where to begin?
The recommended first step is to register on LYOTRADE exchange. Even for the less experienced and crypto newbie, you can rely on the customer service available every day.
Following and learning about the company is a great starting point too, here are the links to their ad pages and channels. We stay informed to see the next steps and growth of LYOPAY, LYOPAY Pro, LYOWALLET, LYOMERCHANT, and all other portals.
Optix Launches An Altcoin Option Trading Competition with $30,000 Prizes
Liquidity providers will share in 15,000 USDC and traders will compete for 15,000 USDC. All of the option markets listed on Arbitrum are eligible for the trading competition including: Ethereum, Bitcoin, Matic, Solana, Avalanche, Doge, Cardano, Aave, Polkadot, Sushi, BNB, Chainlink, Uniswap and Ripple!
Details about the trading competition can be found on the Optix blog:
What is Optix?
Optix is a decentralized option protocol where you can trade options on top crypto assets with up to 50x leverage and earn sustainable yield selling options, directly from your wallet.
What are the unique benefits of Optix?
Optix is revolutionizing the options trading industry with its unique features. One of the standout features is that it offers options on a wide range of assets, not just BTC and ETH. This provides traders with a diverse range of investment strategies that can be tailored to their specific needs.
In addition to a diverse range of assets, Optix offers a simple user experience. The option buying and selling process can be confusing and complicated, but with Optix, it’s as simple as using a decentralized exchange. The platform also supports multiple chains, including Arbitrum and Polygon, making it accessible to a wider range of users.
How does it work?
Collateral in a vault can be used to sell options across multiple assets, put/call directions, expiries, and strikes. This ensures that traders are able to maximize their capital utilization and investment opportunities. Vaults can be created and operated by anyone permissionlessly and compete to offer the best prices to the buyer.
All options on Optix are fully collateralized, non-custodial, and on-chain, providing greater security and transparency to traders.
Who can benefit from Optix?
Optix provides a range of solutions that cater to different types of users, including protocols, DAOs, investors, retail traders, market makers, and institutions.
For protocols, DAOs, and project investors, token vaults and structured products built on a protocol’s native tokens or DeFi primitives offer leverage, risk management & yield opportunities.
For retail traders, Optix provides leverage, portfolio insurance, and yield earning through liquidity provision to vaults.
Market makers & institutions can benefit from Optix’s block trading capabilities for large privately agreed trades against KYC’d and whitelisted parties only, the provision of liquidity at scale, delta hedging and risk warehousing using their own tooling, and using options to hedge their exposure from other trades.
Optix has an exciting on-chain referral program! You can earn a share of the action every time you invite your friends to trade on Optix. For every successful referral, you’ll receive a generous .05% of the notional value of the trader’s transactions. That’s right, simply by spreading the word about Optix, you can start earning today! Don’t wait any longer, join our referral program and start earning rewards.
OPTIX is Optix’s native protocol token; it will be launched in Q3 of 2023. The OPTIX token will be a standard ERC-20 on Ethereum.
The OPTIX token is a utility and governance token that provides ownership and governance of the Optix protocol to the Optix Community. The more OPTIX tokens held, the more voting rights one can accrue. This shared control enables alignment of incentives between the Optix team, community, traders, investors, and partners of the ecosystem.
- Token use cases
- Protocol governance
- Receive a proportion of protocol fees
- Reduce trading fees
- Boost liquidity rewards
$1.8 million was raised in a funding round led by Skynet Trading, followed by Ascensive Assets, Arrington Capital, LVT Capital, Morningstar Ventures, SkyVision Capital, Huobi Global and Phemex.
Future FinTech Group Regains Compliance with NASDAQ Listing Requirements
Future FinTech Group Inc. (“hereinafter referred to as “Future FinTech”, “FTFT” or the “Company”), a blockchain application technology developer and a fintech service provider, announced today that on April 21, 2023, it received a written notification from the NASDAQ Stock Market Listing Qualifications Staff (the “Staff”) indicating that the Company has regained compliance with the periodic filing requirement for The Nasdaq Stock Market under Listing Rule 5250(c)(1).
On April 18, 2023, the Company received a letter from the Staff stating that it was not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of it not having timely filed its Annual Report on Form 10-K (“Form 10-K”) for the fiscal year ended December 31, 2022 with the Securities and Exchange Commission.
Based on the April 19, 2023 filing of the Company’s Form 10-K for the fiscal year ended December 31, 2022, Staff has determined that the Company complies with the Nasdaq Listing Rule and accordingly, this matter is now closed.
About Future FinTech Group Inc.
Future FinTech Group Inc. is a blockchain application technology developer and fintech service provider incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall (“CCM”), supply chain financing services, asset management and a money transfer service. The Company is also developing cryptocurrency mining, cryptocurrency market data services, blockchain-based e-Commerce technology, cryptocurrency investment management and financial service technology businesses. For more information, please visit http://www.ftft.com/.
FunFair Ventures has completed the pre-seed round for Simplicity Group
FunFair Ventures has completed the pre-seed round for Simplicity Group, accelerating their expansion plans with capital injection and advisory support.
Simplicity Group is dedicated to bringing clarity to the complex world of crypto. Their mission is to make the overwhelming space more accessible for everyone, accelerating mass adoption. As a team of economists, researchers, and successful founders, they offer a holistic and comprehensive set of services focused on tackling the biggest problems from multiple perspectives: token architecture, due diligence, research, and advisory.
Simplicity have just launched their due diligence platform, www.wedyor.xyz, which allows any investor to request due diligence into new crypto projects, as well as being able to view all the reports created for other platform members. The goal is to simplify the investment process for investors, ranging from angels and family offices to investors coming from Web2.
The primary focus of the investment is to help facilitate the growth of the platform.
Lloyd Purser, COO at FunFair Ventures, commented: “Facilitating Simplicity’s growth at the pre-seed stage was a total no brainer for us. We’re a boutique ventures business with a small team and at times rely on outsourced services. We’ve been outsourcing research, project analysis, and DD to Simplicity for a while now and the benefits to us are huge, we know this will be the case for other ventures businesses too”.
For more information, or to check out their high-value content on tokens, Web3, or finance in general, check out below:
Ledger Live now includes ClubNFT for free NFT back-up
ClubNFT, a company building next-generation tools and services to analyze, monitor, and protect NFTs is partnering with Ledger to enable all users of the Ledger Live app to quickly and easily download a backup of their NFTs to their own computer, ensuring the safety and longevity of their collections no matter what may happen in the future.
Founded by Artnome’s Jason Bailey and Chris King in 2021, ClubNFT’s mission is to help protect artists and collectors from marketplace dependency for the safety and preservation of their NFTs, educate anyone interested in the space, and help collectors make good decisions about what to buy next, where, and why.
Founded in Paris in 2014, Ledger is a global platform for digital assets and Web3 and is the leading manufacturer of cryptocurrency wallets. Ledger Live, an accompanying app to Ledger, enables users to update their Ledger wallet, install apps that support cryptocurrencies and buy and sell coins.
“Ledger Live and ClubNFT are an ideal combination for delivering the best security and protection for NFTs,” said Jason Bailey, co-founder and CEO of ClubNFT. “By using a Ledger to backup onchain assets and ClubNFT to backup and pin offchain assets, users can ensure their NFTs are well-protected for the long-term. Plus, creating a ClubNFT backup is free, trustless, and doesn’t require any transaction signing.”
Beyond the backup accessible through Ledger Live, ClubNFT will provide additional service and insights to Ledger users that include:
- Free pinning (for 6 months) for Ledger Marketplace and Mint Pass NFT holders whereby ClubNFT will host NFT artwork and metadata (in addition to the marketplace, for redundancy), ensuring marketplace shutdowns or technical problems do not take users’ NFTs offline
- Which NFTs in their collection were minted following best-practices, using IPFS for off-chain content, and which were not
- Which marketplaces consistently follow these best practices, and which do not
- A number of technical insights of interest to conscientious collectors
Since launch in June of 2022, ClubNFT has backed-up more than 2M NFTs and pinned more than 1.5M NFTs.
ClubNFT is a technology company pioneering the next generation of NFT solutions to help collectors analyze, monitor, and protect their NFTs. They provide a free service to protect NFT collections from marketplace shutdowns, censorship, and bankruptcies by giving collectors the ability to self-custody the artwork and metadata for their NFT collection. ClubNFT is led by a team of seasoned professionals with expertise in technology, finance, and the art world. For more information, please visit www.clubnft.com.
EXBI to Announce New Launchpad Platform
Artificial intelligence and the crypto sphere: The evolution of financial technology
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